McBride HY Group Continuing Revenues At Constant Currency Down 4.4%

McBride plc (MCB.L), in a trading update for the six months ended 31 December 2019, group continuing revenues at constant currency were down 4.4% compared to the prior year, reflecting the decision to exit UK Aerosol manufacture in the fourth quarter of the previous financial year.

The company expects full year adjusted profit before tax to be about 15% lower than current market expectations reflecting the impact of lower revenues.

The Group's first half Household revenues at constant currency were 1.4% lower compared to the prior year following a slowdown in the last two months of the period, especially in the UK. UK revenues were 8.0% lower year on year, reflecting weaker Private Label activity in the period.

The company's expectations for the rest of the year are reduced and it now expect full year Household revenues to decline by approximately 2% year on year.

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